Tangerine Digital Entertainment, a media and entertainment company, has received funding from Capital18, the investment arm of the Network18 group. The amount of investment is not known, but sources have confirmed the deal to ContentSutra. We’d reported last year that, as per a March 30 2007 filing with SEBI, Network18 promoter Raghav Bahl owned 50 percent stake in Tangerine Digital, and the other 50 percent was held by promoter Puneet Johar (details here). We’re told that Bahl has not sold his stake in the company to Capital18, and we’re still trying to find out details of the change in the shareholding after the Capital18 investment.
Tangerine Digital runs the youth focused social media portal Campus18.com, provides media services, and is involved in television production and film distribution. It had recently acquired worldwide rights to the film Mithya, and is also involved in content repurposing and media process outsourcing for another Network18 company – Source18. Capital18 has also invested in online marketing firm Webchutney, $4 million in 24/7 Learning. The fund had raised Rs. 100 crore $100 Million to fund new initiatives in the new media and mobile consumer services space.
Disclaimer Disclosure: I own an inconsequential number of shares of Network18 Fincap
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